The creditors get to select what in a Chapter 7 bankruptcy proceeding?
A) The judge.
B) The bank that will liquidate the assets.
C) The trustee.
D) The debtor's timeframe to pay off the debts owed.
E) The jury that will hear the case.

Question

Quizplus · Accepted Answer

In a Chapter 7 bankruptcy proceeding, the creditors have the right to select the trustee who will oversee the liquidation of the debtor's assets. The trustee is responsible for selling the debtor's non-exempt property and distributing the proceeds to the creditors.

The Creditors Get to Select What in a Chapter 7